Announcement |Treatment of Spin Off – VOLVO CAR AB-B, 2024-04-11| Informative Notice

Solactive AG notes the announcement made by VOLVO CAR AB-B (VOLCARb.ST, BMXC0X9) on February 23, 2024 whereby the Board of Directors resolved to distribute 62.7 percent of VOLVO CAR AB-B holding in POLESTAR AUTOMOTIVE HOLDING UK PLC CLASS A ADR (PSNY.OQ , BM9VBN7) to shareholders of VOLVO CAR AB-B.

The Distribution of POLESTAR AUTOMOTIVE HOLDING UK PLC CLASS A ADR will be carried out by way of Share split followed by an automatic Share Redemption process.

Each common share of series B will be split into two common shares of series B , one of which will be referred to as a Redemption Share. The redemption share will be represented by ISIN- SE0021628914. The Redemption Shares will be traded on Nasdaq Stockholm from and including April 15, 2024 up to and including April 30, 2024.

On or around May 13,2024 all Redemption Shares will automatically be redeemed by Volvo Cars and owners of Redemption Shares will receive Swedish Depository Reciepts (SDR) in the ratio of 3 SDR for every 14 Redemption Shares.

The SDR will not be admitted to trading in Sweden or elsewhere. After the Distribution has
been completed, holders of SDR will be able to convert their SDR, free of charge, into POLESTAR AUTOMOTIVE HOLDING UK PLC CLASS A ADR, listed on Nasdaq New York, during a period of months. The conversion period is expected to commence on or around May 13, 2024 and end on or around August 13, 2024.

Solactive AG will implement the following treatment on the effective date of April 11, 2024

1) In connection with the Distribution the ISIN code of the VOLVO CAR AB-B (VOLCARb.ST, BMXC0X9) shares will be changed from SE0016844831 to SE0021628898. The new ISIN codes will be valid from and including April 11, 2024.

2) The spin-off company VOLVO CAR AB-REDEMPTION SHARE B (VOLCARbSpinCo.ST, SE0021628914) will be added to the Index according to the transaction terms of 1 for 1.

3) A theoretical price for the spin-off company will be implemented at fixed price for April 11,2024 and April 12, 2024.

4) Following the Spinoff, VOLVO CAR AB-REDEMPTION SHARE B will trade from April 15, 2024 to April 30, 2024 after which it will be automatically redeemed for SDR on May 13, 2024. As the SDR is not expected to be listed and trade on any exchange, VOLVO CAR AB-REDEMPTION SHARE B (VOLCARbSpinCo.ST, SE0021628914) will be removed from the indices effective (Open) May 2, 2024. The weight of VOLVO CAR AB-REDEMPTION SHARE B (VOLCARbSpinCo.ST) based on its last close price will be distributed pro rata to remaining Index constituents.

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